Self-inspection is generally a method used to visualize one’s own business on matters that gives a productive overall review in the sense to increase the positive effect of quality assurance on the pharmaceutical products. There are certain practices to be followed and conform to the guidelines put forward by agencies that control the authorization for manufacturing of food and drugs under pharmaceutical products termed as Good Manufacturing Practices (GMP).The self-inspection team must be in compliance with GMP to succeed in the methodology of quality assurance. Self-inspection in Pharmaceuticals is one of the major milestones to be survived upon oneself for his/her career. It is a way to ensure and protect the products from getting affected in any way. Self-inspection prevents and safeguards the manufacturing unit. Speaking of the self-inspection team, they must have the checklist provided by the manufacturing company management with all valid standards i.e. they must be competent with heavy knowledge in medical drug production activities.

Self-inspection team must strictly undergo by the guidelines by the GMP and make sure the products are perfectly compatible. An inspection must be in accordance with GMP to be approved by the World Health Organisation. It must include- Personnel, Premises and Equipment, Maintenance, Storage of starting and finished products, Production and in-process controls, quality control, documentation, sanitation and hygiene, validation and revalidation program, distribution product customer service, instrument calibration, labels control, results of previous self-inspection and corrective and wrong actions (if any) taken.The team must specify every detail of the products’ quality and if needed or not regular examinations must be done periodically to ensure the future of the product to be certified. They must keep in mind their job is not only to find faults but to correct them and suggest improvements if necessary for the difficulties and problems encountered.One must ensure that the company is not just housekeeping or safety audits. The report must contain clean audit records of the analyzed data to be presented before the management. Worthy results must be drawn from focused observation using brains to evaluate the quality of the drug. An annual inspection chart may be made for future reference. It could also encourage the upcoming employees to nurture and evolve with time. Never look for the shortest route as it may end up as a job you get paid for. Make it worth as pharmaceutical companies need to be made steady in all aspects of the existence of humanity.

The auditing data must be uploaded and made visible to all the public as they also could bring up new ideas for the development of the self-inspection program. A team could only exist if there is teamwork. So as a whole one and everyone should contribute and practice to every asset in their life for success to happen. Self-inspection in pharmaceuticals could become an inspirational subject if malpractices are omitted. Every pharmaceutical person should be aimed at having a GMP certified product to be manufactured and retailed.

Let’s say that a new technology is developed that could allow many parties to transact a real estate deal. The parties get together and complete the details about timing, special circumstances and financing. How will these parties know they can trust each other? They would have to verify their agreement with third parties – banks, legal teams, government registration and so on. This brings them back to square one in terms of using the technology to save costs.

In the next stage, the third parties are now invited to join the real estate deal and provide their input while the transaction is being created in real time. This reduces the role of the middleman significantly. If the deal is this transparent, the middleman can even be eliminated in some cases. The lawyers are there to prevent miscommunication and lawsuits. If the terms are disclosed upfront, these risks are greatly reduced. If the financing arrangements are secured upfront, it will be known in advance that the deal will be paid for and the parties will honour their payments. This brings us to the last stage of the example. If the terms of the deal and the arrangements have been completed, how will the deal be paid for? The unit of measure would be a currency issued by a central bank, which means dealing with the banks once again. Should this happen, the banks would not allow these deals to be completed without some sort of due diligence on their end and this would imply costs and delays. Is the technology that useful in creating efficiency up to this point? It is not likely.

What is the solution? Create a digital currency that is not only just as transparent as the deal itself, but is in fact part of the terms of the deal. If this currency is interchangeable with currencies issued by central banks, the only requirement remaining is to convert the digital currency into a well-known currency like the Canadian dollar or the U.S. dollar which can be done at any time.

The technology being alluded to in the example is the blockchain technology. Trade is the backbone of the economy. A key reason why money exists is for the purpose of trade. Trade constitutes a large percentage of activity, production and taxes for various regions. Any savings in this area that can be applied across the world would be very significant. As an example, look at the idea of free trade. Prior to free trade, countries would import and export with other countries, but they had a tax system that would tax imports to restrict the effect that foreign goods had on the local country. After free trade, these taxes were eliminated and many more goods were produced. Even a small change in trade rules had a large effect on the world’s commerce. The word trade can be broken down into more specific areas like shipping, real estate, import/export and infrastructure and it is more obvious how lucrative the blockchain is if it can save even a small percentage of costs in these areas.